Friday, June 23, 2017
Samsung Website Header Banner
Hirum Next Gen Website Title 728×90
onefinestay will remain an independent business unit within the AccorHotels group

AccorHotels acquires onefinestay

AccorHotels has announced the acquisition of onefinestay, a high-end hospitality pioneer specializing in luxury serviced Home rental in key worldwide gateways, for £117m and makes a further commitment of €64m (£50m) to help the company scale internationally.

Launched in 2010 in London by Greg Marsh (CEO and co-founder), Demetrios Zoppos, Tim Davey and Evan Frank (co-founders), the company today operates a portfolio of 2,600 properties under exclusive management with strategic locations in London, New York, Paris, Los Angeles and Rome (representing an estimated asset value of more than £4bn).

With its global presence and strong expertise in both operations and digital services, AccorHotels will support a new development phase of onefinestay, accelerating its expansion across new key urban markets, providing it with its powerful distribution capacity, strong customer base, incremental synergies and its know-how as a world-leading hotelier. As a result, onefinestay has an ambitious strategy to expand to 40 new cities around the world over the next five years growing revenues tenfold.

onefinestay will remain an independent business unit within the AccorHotels Group and will continue to be led by Greg Marsh and the key management team.

Sébastien Bazin, chairman & CEO of AccorHotels said: “onefinestay has successfully captured a sweet spot: a combination of needs that neither traditional hotels nor new actors of the sharing economy can meet. With the acquisition of this exceptional brand, unique operating model and outstanding management team, AccorHotels is developing as the worldwide leader of the Serviced Homes market. Today, together with our recent investments, we are accelerating the transformation of our business model to capture the value creation linked to the rise of private rentals and also strengthening our presence in the luxury market with a complementary offer”.

Greg Marsh, co-founder & CEO of onefinestay said: “AccorHotels’ investment in onefinestay is a tremendous invitation for us to write the next chapter in our story. We share their deeply held conviction about the scale of the home rental opportunity, and greatly value their expertise, their practical & financial support as we plan the launch of more than 40 new markets over the next five years. With AccorHotels’ help, onefinestay will become a globally recognized byword for exceptional experiences, extraordinary service, and handmade hospitality.”

About Rosie Clarke

Rosie Clarke
Rosie Clarke is the editor of Resort News and Accom Management Guide as well at their digital home, accomnews. You can reach her at any time with questions or submissions.

Check Also

Mantra Group raises $13,000 for Luke Batty Foundation

Mantra Group’s North Queensland Region took to the pitch on Saturday June 17 to raise $13,000 for the Luke Batty Foundation, the group’s official charity partner, at their annual cricket day fundraiser.  

Are awards rewarding for hotels?

With a number of awards to be presented to Australian hotels and resorts over the coming months, AccomNews spoke exclusively with Tourism Accommodation Australia (TAA) about the importance of awards to a hotel’s reputation, as well as to their development and success.

How well does Airbnb manage guest reviews?

Every hotelier knows how important online reviews are, and how damaging they can be if they’re unfavourable.

Leave a Reply

Your email address will not be published. Required fields are marked *